Daily Technical & Trading Outlook USD/CHF

    DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 13 Apr 2016 00:42GMT

Trend Daily Chart
Down

Daily Indicators
Falling

21 HR EMA
0.9549

55 HR EMA
0.9547

Trend Hourly Chart
Down

Hourly Indicators
Bullish convergences

13 HR RSI
53

14 HR DMI
+ve

Daily Analysis
Consolidation b4 one more fall

Resistance
0.9667 - 31 Mar high
0.9622 - Last Wed's high
0.9594 - Y'day's high0.9498 - Y'day's 5-month low

Support
0.9498 - 100% proj. of 1.0257-0.9661 fm 1.0094
0.9477 - 2015 Oct low (15th)

. USD/CHF - 0.9555... Although the greenback resumed its recent decline n fell briefly to a fresh 5-month low at 0.9498 in Europe, short-covering together with improved risk appetite lifted dlr to as high 0.9594 in NY b4 retreating.

. On the bigger picture 1st, dlr's breach of prev. Mar's low at 0.9651 to 0.9521 last Thur, then to a fresh 5-month trough at 0.9498 y'day confirms the MT fall fm 2015 4-year peak at 1.0330 (Nov) has once again resumed n price is en route to next downside target at 0.9477 (2015 Oct low) after consolidation. Having said that, as daily indicators would be in o/sold territory on such move, further weakness below 0.9425 being 100% proj. of 1.0330-0.9661 measured fm 1.0094) is unlikely to be seen n price should hold abv minor sup at 0.9384 n yield rebound. On the upside, only a daily close abv 0.9667 would signal temporary low is made n yield stronger gain to 0.9723 but 0.9786 should cap upside.

. Today, as y'day's strg rebound fm 0.9498 suggests a minor low has been made, we are buying look to buy on dips for 0.9620 n wud look to exit on subsequent gain as res 0.9667 wud remain intact today. Below 0.9515 wud confirm recovery is over n yield re-test of aforesaid low, break, 0.9477.